U.S. Department of Justice (DOJ) confirms in a statement that four Forsage founders have been indicted on charges totaling more than $340 million. The authorities claim that Forsage operated using a Ponzi scheme–like system based on smart contracts. Indictments are handed out by grand juries. If prosecutors are able to
February 23, 2023 1 min read
Since the U.S. Securities and Exchange Commission’s (SEC) assault on crypto businesses, scrutiny of crypto players in the U.S. continues. In the latest development, an attorney from New York has filed a complaint with regulators over a cryptocurrency exchange. Global regulatory agencies stepped up their attempts to standardize crypto market
February 23, 2023 2 mins read
With the recent release of RIF Flyover, it is now possible to move Bitcoin quickly and securely from the Rootstock sidechain to the main Bitcoin blockchain in only a few minutes as opposed to taking hours. The “Repayment Protocol” known as RIF Flyover is distinctive in its architecture. The procedure
February 21, 2023 3 mins read
Polygon (MATIC) has been a top performer this past week, and with its recent Dogecoin flip, it may be trying to overtake Cardano and Binance USD next. Although the industry as a whole has felt the effects of Bitcoin’s surge to over $25,000, no other altcoin has witnessed benefits on
February 21, 2023 1 min read
Composable Finance’s current CEO has strongly denied claims of legal wrongdoing made by the company’s former CTO, Karel Kubat. Kubat tweeted about his resignation from the company on February 20. Along with a litany of charges against the business and its CEO. In addition, Kubat said that he was retiring
February 21, 2023 1 min read
The Solana mobile Saga was unveiled last year, but the crypto world has been patiently waiting to try it out. Earlier in 2023, Solana Mobile, a subsidiary of Solana Labs, stated that the Saga mobile, powered by Web3 features, will be made available. The Saga may be pre-ordered right now.
February 19, 2023 2 mins read
The U.S. government’s clampdowns and the lack of regulatory clarity have frustrated blockchain and digital currency executives. Both Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powell have urged lawmakers to establish uniform regulations for digital currencies. The CEO of Custodia, Caitlin Long, said in a blog post on February
February 19, 2023 1 min read
Brian Armstrong, CEO of Coinbase, a cryptocurrency exchange, has urged lawmakers to establish clear crypto regulations. In addition to Armstrong, many others have voiced their dissatisfaction with the ambiguity of U.S. crypto policy, claiming that it makes it impossible for businesses to operate within the law. Yet, Gary Gensler, head
February 18, 2023 2 mins read
To better adapt to the fluctuating crypto market, OpenSea, the industry’s top NFT platform, has announced that it would temporarily abolish its 2.5% charge on sales and reduce creator royalty protections. This action was taken in reaction to mounting threats posed by upstart competitor Blur. As of this past Friday,
February 18, 2023 2 mins read
Binance, a cryptocurrency exchange, has minted roughly $50 million worth of TrueUSD in only a few days after news surfaced that US regulators were looking into Paxos and Binance USD. According to Etherscan, the transaction occurred on February 16 and came only two days after Binance CEO Changpeng Zhao “CZ”
February 17, 2023 2 mins read